James Pendleton

Yes its true to say they are desperate to kick start the economy. With the 700 billion dollar bail out passed and in the works. Now the Fed Chairman kicking around with Bush and wanting to see another stimulus package of hand out checks to citizens. The talk of buying up Corporate paper to loosen up and release the credit market for Banks.

All this seems to be going for naught right now. Tweaking here and there trying to see what will work. With the only positive effect being the slow down in the economy having a positive effect for the consumer in the lowering of the price of oil that has cascaded down to lowering of gas prices at the pump. Lower gas prices will in no means boost the sluggish economy. With retailers gearing up early for the holiday season with lower prices and sales trying to make sure the holiday season is profitable. Knowing full well its make or break for them during this time of year.

Another stimulus package is not a bad idea from my point of view. What the heck I will take another check from Ol' Uncle Sam. However the last stimulus package had little if no effect on the economy with most citizens taking that money and putting it away or paying off some debt. Not really putting it back into the system with purchase of consumer goods as expected.

My confidence is secure in the ability of the economy and the Country to bounce back. I see it as the natural order of things. We are simply reaching the bottom of natural swings of up and down. Good times and bad times... a natural boom and bust.This country has seen many swing over its life time over the centuries. As time goes by and things improve we will be talking about the days when things were slow. You just can't have it good all the time. There must be swing of up and down.

The Real Estate market Nationally has almost reached its bottom. Probably another year of slide downward in prices as sellers realize they will have to bit the bullet and lower prices in order to move their properties. With pockets around the country still doing well with property values still in appreciation mode. I live and work in one of those pockets here in Mobile. Property values have dropped to some degree. However not as much as the national average. As soon as the credit markets are free the sale of property will resume in earnest. With home buyer having the luxury of being able to pick and choose bargains not seen in years past.

With the country being entrenched in a economic down turn. Volatile stock market and credit bound up. The Real Estate market in Mobile has held its own. Granted there was a bit of a slow down in the market but it was not impacted like the rest of the country. The city of Mobile has plenty of amenities with new industry moving in and innovative leadership that has forward thinking vision of placing Mobile in the position to be a world class city.

Planning controlled growth and expansion with deliberate control on how a what the city and surrounding areas in the County will progress. This steady growth in the Real Estate market in the area is visible with property values holding steady a bit lower but still up. You can buy much more house for your money in the City of Mobile than anywhere else in the country. Instead of being 2 or 3 hours from the beach you are only 10 to 30 minutes from Dauphin Island. 10 to 15 minutes from the many multi cultural activities that take place in the city year round. 10 to 20 minutes from a Cruise Ship that has a permanent home docked right downtown.

New housing starts have remained steady with new construction leading the way. Custom builders and track builders the like have not been swayed by the down turn in the national market and remain confident in selling inventory. Proving buyer incentives to prospective home buyers. The upcoming Parade of homes is a prime example of the confidence in the Mobile housing market. The expectation of job growth is high and the high expectation of new business start ups that are spin offs of new industry.

Things are good down here on the Gulf Coast with the Coty of Mobile leading the way as the National market recovers from the recent down turn. I expect the see overall sales pick up quickly within the next 2 years as the economy recovers from the credit crunch and downturn of the Stock markets. If you are thinking about living on the beautiful Gulf Coast, Mobile Alabama is a best kept secret.

Cumlative Sales 2008

Sales Mobile Alabama 2008
Month	Year	Monthly Sales	Avg ListPrice	Avg Sale Price	% Diff Sell/list	Avg DOM	Current Inventory	Months Inventory
January	2008	147	$133,264	$129,937	97.50%	73.0	1404	9.55
February	2008	179	$160,481	$156,353	97.43%	79.0	1454	8.12
March	2008	195	$154,621	$151,090	97.72%	79.0	1495	7.67
April	2008	196	$169,890	$165,614	97.48%	77.0	1500	7.65
May	2008	264	$169,225	$163,358	96.53%	88.0	1525	5.78
June	2008	221	$184,615	$181,564	98.35%	92.0	1573	7.12
July	2008	206	$165,212	$161,520	97.77%	74.0	1567	7.61
August	2008	180	$156,306	$152,080	97.30%	73.0	1581	8.78
September	2008	169	$161,381	$158,114	97.98%	85.0	1591	9.41
Total	2008	1757	$161,666	$157,737	97.57%	80.0	1,521	7.97
Total	2008-2008	1757	$161,666	$157,737	97.57%	80.0	1,521	8.00